Rockefeller Capital Management L.P. Cuts Stock Holdings in The Cooper Companies, Inc. $COO

Rockefeller Capital Management L.P. cut its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,179 shares of the medical device company’s stock after selling 871 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Cooper Companies were worth $796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Horizon Investments LLC boosted its holdings in Cooper Companies by 5.0% in the first quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company’s stock worth $241,000 after purchasing an additional 136 shares during the last quarter. Wealth Alliance LLC lifted its holdings in shares of Cooper Companies by 4.2% during the 2nd quarter. Wealth Alliance LLC now owns 4,230 shares of the medical device company’s stock valued at $301,000 after buying an additional 171 shares during the period. State of Michigan Retirement System boosted its stake in shares of Cooper Companies by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 54,344 shares of the medical device company’s stock worth $3,867,000 after buying an additional 200 shares during the last quarter. New York Life Investment Management LLC grew its holdings in shares of Cooper Companies by 0.7% in the second quarter. New York Life Investment Management LLC now owns 30,019 shares of the medical device company’s stock worth $2,136,000 after acquiring an additional 210 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Cooper Companies by 3.5% during the first quarter. EverSource Wealth Advisors LLC now owns 6,517 shares of the medical device company’s stock valued at $550,000 after acquiring an additional 220 shares during the last quarter. Institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Down 0.3%

COO opened at $77.94 on Thursday. The company has a market capitalization of $15.50 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. The firm has a 50-day simple moving average of $70.89 and a two-hundred day simple moving average of $71.88. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.29. The Cooper Companies, Inc. has a 52 week low of $61.78 and a 52 week high of $106.63.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings data on Wednesday, August 27th. The medical device company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. Analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Cooper Companies declared that its board has initiated a share repurchase program on Wednesday, September 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical device company to reacquire up to 15.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Cooper Companies

In related news, COO Gerard H. Warner III purchased 1,450 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average cost of $69.23 per share, for a total transaction of $100,383.50. Following the completion of the transaction, the chief operating officer directly owned 18,319 shares in the company, valued at $1,268,224.37. This represents a 8.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Daniel G. Mcbride bought 3,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was purchased at an average price of $65.04 per share, with a total value of $195,120.00. Following the acquisition, the chief operating officer directly owned 63,120 shares in the company, valued at approximately $4,105,324.80. The trade was a 4.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 17,975 shares of company stock worth $1,216,346 in the last quarter. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group set a $64.00 price target on Cooper Companies and gave the company a “sell” rating in a research note on Wednesday, October 1st. Piper Sandler cut their target price on shares of Cooper Companies from $105.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, August 28th. Stifel Nicolaus decreased their price target on shares of Cooper Companies from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, August 28th. Weiss Ratings raised shares of Cooper Companies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Robert W. Baird reduced their price objective on Cooper Companies from $97.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.77.

Cooper Companies Company Profile

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.